New York Real Estate Experts Blog Page

Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year. The CoreLogic report broke down appreciation even further into four different price categories:

Lower Priced Homes: priced at 75% or less of the median

Low-to-Middle Priced Homes: priced between 75-100% of the median

Middle-to-Moderate Priced Homes: priced between 100-125% of the median

High Price Homes: priced greater than 125% of the median

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âHere is how each category did in 2016:

âBottom Line:

âThe lower priced homes (which are more in demand) appreciated at greater rates than the homes at the upper ends of the spectrum.